Market Introduction
The Middle East and Africa battery recycling market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The surge in demand for lithium-ion batteries across consumer electronics, electric vehicles, and grid electrical storage, has increased the need for critical materials including cobalt, lithium, and graphite. With the steady growth in the demand for lithium-ion batteries, the focus has been shifted upon resource activation with the help of recycling. There is a rising need to incorporate advanced technology to promote resource efficiency, along with an economically feasible recycling system for lithium-ion batteries, to maintain the future supply of the component materials. Several research studies are focused on developing processes for the recycling of lithium-ion batteries. While several processes pose difficulties in actual application, some methods have been studied to pose better feasibility, among which, the most promising processes are separation technologies. Further, researchers are currently focusing their efforts to develop designs and materials related to lithium-ion batteries, which can effectively ease the future recovery of the batteries. The increase in the use of Li-S/Air or LFP batteries or breakthroughs in post-Li batteries based on abundant elements such as sodium, magnesium, or calcium is expected to lead to an absolute disassociation from conventional materials such as lithium, cobalt, and nickel in the future. Hence, a strong focus on recycling, backed with research and development activities, is effectively aimed to promote the demand for lithium-ion battery recycling, thereby supporting the growth of the battery recycling market.
In the Middle East and Africa, the ongoing pandemic has drastically altered the status of the electronics sector and negatively impacted the growth of the battery recycling market. The operations of several industries such as electronics, automotive, and power have been impacted during the pandemic, which has impacted the delivery cycle and increased import-export tariff of recycled batteries. The market has been impacted by the distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international borders. Disruptions in terms of sourcing of raw materials from suppliers and temporary closure of manufacturing bases due to lockdowns and quarantines have impacted the growth of the market during the pandemic. However, as the economies are planning to revive their operations, the demand for battery recycling is expected to rise in the Middle East and Africa. The expanding demand for battery recycling across automotive, industrial, household, consumer electronics, and other industries, along with significant investment by prominent manufacturers, is expected to drive the growth of the battery recycling market.
Market Overview and Dynamics
The battery recycling market in Middle East and Africa is expected to grow from US$ 791.20 million in 2021 to US$ 1,598.74 million by 2028; it is estimated to grow at a CAGR of 10.6% from 2021 to 2028. There have been various initiatives by international companies for developing electric vehicle projects in the Middle East & Africa region. For instance, Saudi Electric Company entered into an agreement with Japanese Electric Power Co, Takaoka Toko, and Nissan Motor Co, for deploying the country’s first electric vehicle pilot project. Siemens is also providing support to Volkswagen by equipping its Zwickau vehicle plant to produce electric cars. Thus, the Middle East & Africa region is likely to witness an increasing adoption of electric vehicles in the coming years, which will create opportunities for the growth of the lithium-ion battery sector. Along with the increased adoption of batteries, there would be an increasing demand for battery recycling, which will provide various opportunities for the battery recycling market in the Middle East & Africa.
Key Market Segments
Based on type, the lead acid battery segment accounted for the largest share of the Middle East and Africa battery recycling market in 2020. Based on battery source, the consumer electronics segment accounted for the largest share of the Middle East and Africa battery recycling market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Middle East and Africa battery recycling market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Clarios; East Penn Manufacturing Company; Exide Industries Limited; G P Batteries International Limited; and Aqua Metals, Inc.
Reasons to buy report
Middle East and Africa Battery Recycling Market Segmentation
Middle East and Africa Battery Recycling Market -By Type
Middle East and Africa Battery Recycling Market -By Battery Source
Middle East and Africa Battery Recycling Market – By Country
Middle East and Africa Battery Recycling Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 791.20 Million |
| Market Size by 2028 | US$ 1,598.74 Million |
| CAGR (2021 - 2028) | 10.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Battery Recycling Market is valued at US$ 791.20 Million in 2021, it is projected to reach US$ 1,598.74 Million by 2028.
As per our report Middle East and Africa Battery Recycling Market, the market size is valued at US$ 791.20 Million in 2021, projecting it to reach US$ 1,598.74 Million by 2028. This translates to a CAGR of approximately 10.6% during the forecast period.
The Middle East and Africa Battery Recycling Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Battery Recycling Market report:
The Middle East and Africa Battery Recycling Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Battery Recycling Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Battery Recycling Market value chain can benefit from the information contained in a comprehensive market report.
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